Samsung Pushing Adoption with help from Ethereum

Samsung has been getting a lot of attention from crypto fans over the past few months. With the release of the blockchain wallet on the Galaxy S10, a lot of enthusiasts turned their heads to Samsung.

In an article from Business Korea, Chae Won-Cheol, senior managing director of the Product Strategy Team at Samsung Electronics Wireless Business Division, said:

“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States and Canada.”

Samsung released the Galaxy S10 in March which was fully equipped with a cryptocurrency wallet, the Samsung Blockchain Wallet, in order to store coins, public and private keys and so on. It was initially announced in February but was also revealed that the device would have a secure private storage made specifically for blockchain-enabled mobile services.

As reported by CryptoSlate:

“Notably, though, despite the Bitcoin logo appearing on early pre-release images, the wallet only supports ether and Ethereum-based ERC-20 tokens at present. However, given the fact that Bitcoin was initially presented on the images, it’s thought that support for the number one cryptocurrency may eventually be rolled out at some stage.”

This caused a bit of a stir in the crypto space as speculation surfaced that the use of blockchain could push adoption forward. Although it seems that with their latest report, the tech firm is taking further steps to spur this on.

Looking outside of Galaxy phone models, Won-Cheol said that the company is excited to boost security and convenience via the aid of “blockchain-based identification and local currencies by partnering with telecom operators.”

There are other firms in the smartphone space that are getting involved with crypto too. HTC and the Exodus 1 smartphone being just one of them.

Last, month, a post was published to Medium which suggested that Samsung is actually developing its own blockchain mainnet based through Ethereum.

“Samsung is joining the fledgling token economy it would seem. Samsung according to sources, is thinking of a private blockchain, though it is not yet confirmed. It could also be [a] public blockchain in the future, or some kind of hybrid—that is, a combination of public and private blockchains.”